Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Colonial Properties Trust in Connection with the Sale of the Company to Mid-America Apartment Communities Inc.

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Published: June 3, 2013 11:46 a.m. ET

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NEW YORK, Jun 03, 2013 (BUSINESS WIRE) --
Levi & Korsinsky is investigating the Board of Directors of Colonial
Properties Trust ("Colonial" or the "Company")
CLP, +0.00%
for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to Mid-America Apartment
Communities Inc. ("Mid-America")
MAA, -0.77%

Under the terms of the transaction, Colonial shareholders will receive
0.36 of a Mid-America share for each share of Colonial they own,
representing a value of approximately $24.47 per share. The
investigation concerns whether the Colonial Board of Directors breached
their fiduciary duties to stockholders by failing to adequately shop the
Company before agreeing to enter into the transaction, and whether
Mid-America is underpaying for Colonial, thus unlawfully harming
Colonial shareholders. In particular, at least one analyst set a price
target for Colonial stock at $26.00 per share.

If you own common stock in Colonial and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/colonial-properties-trust-clp/.

Levi & Korsinsky is a national firm with offices in New York, New Jersey
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits. The
attorneys at Levi & Korsinsky have been appointed by numerous courts
throughout the country to serve as lead counsel on behalf of
shareholders in major securities lawsuits and have successfully
recovered multimillion-dollar damages awards on behalf of investors. For
more information, please feel free to contact any of the attorneys
listed below. Attorney advertising. Prior results do not guarantee
similar outcomes.

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